Rio EA is an automated trading robot driven by recurrent Neural Networks and Long-Short-Term-Memory cells to predict market movements. Despite its claims of leveraging Artificial Intelligence and technical analysis, this MT4/MT5 expert advisor falls short of delivering the expected results. We’ll delve into the reasons behind this lackluster performance.
Rio EA was developed by Ruben Octavio Gonzalez Aviles, a software developer from Switzerland, with 2 years of experience in the Forex robot marketplace. He has a portfolio of five products and two signals accounts, with an overall rating of 4.3/5 on the MQL5 platform.
Rio EA Review
Rio EA fails to deliver on its promises, with a deficient backtesting report that lacks transparency and detailed analysis. The signals account shows a high drawdown on the live performance, undermining profitability and risking trading capital.
According to the developer, the Forex expert advisor harnesses the power of Recurrent Neural Networks, specifically Long-Short-Term-Memory (LSTM) cells, to delve into the depths of market patterns. These networks, trained using data from technical analysis indicators, can discern the indicators most pertinent to future price movements.
Rio EA Strategy
Unlike its counterparts, Rio EA employs a safety-first approach. It refrains from the risky methods of martingale, smart recovery, grid trading, and averaging techniques that have been known to cause substantial losses. Instead, the EA embraces a fixed Take Profit and Stop Loss for every position right from the start. Although these values can be customized to suit individual preferences, the default settings have been optimized through extensive backtesting.
EA Breakdown
- Type: Forex Robot
- Strategy: Recurrent neural networks and technical analysis
- Recommended Pair: EURUSD
- Timeframe: H1
- Price: $599
Rio EA holds a limited introductory offer priced at $599. Only two of five copies of Rio EA will be sold at this current price. The next batch of buyers will bear witness to a price increase.
The developer employs pressure tactics when it comes to pricing his products. By steadily increasing the price and limiting the number of users, he creates a sense of urgency and scarcity. While this may create a sense of exclusivity, it can also be perceived as a manipulative strategy to drive sales rather than focusing solely on the merits of the product.
For those who wish to dip their toes before diving headfirst into the world of Rio EA, a rental option is available at $399 per month.
Backtesting Result
One of the glaring red flags surrounding Rio EA is its deficient backtesting report. While it claims to have undergone extensive training and testing from 2010 to 2022, the lack of transparency and detailed analysis raises concerns.
Traders deserve to have access to comprehensive reports that demonstrate the algorithm’s performance across different market conditions. Without such information, it becomes difficult to trust the efficacy of Rio EA’s strategies.
Trading Result
The automated trading software has live signals account on the MQL5 platform. This account shows a total growth of 98% and a maximum drawdown of 52.1%.
A trader’s worst nightmare, the specter of high drawdown looms ominously with Rio EA. Live signals report indicates significant losses experienced on live accounts. Despite the absence of risky techniques like the martingale or grid trading, the algorithm seems to struggle in mitigating losses effectively. Such a high drawdown can not only erode profits but also jeopardize the overall trading capital.
One would expect a trading algorithm to be actively engaged in seizing opportunities within the market. Unfortunately, Rio EA fails to live up to this expectation, exhibiting surprisingly low trading activity on live accounts. Instead of capitalizing on potential trades, it often remains idle, leaving traders frustrated and questioning the algorithm’s effectiveness.
This lack of activity not only hampers potential profit generation but also raises doubts about the algorithm’s ability to adapt to changing market conditions.
Conclusion
Regrettably, Rio EA falls far short of its promised potential. The deficient backtesting report casts doubt on the algorithm’s historical performance, leaving traders in a state of uncertainty. The high drawdown experienced on live accounts and the minimal trading activity only compounds the disappointment further. In a market where reliability and consistent performance are paramount, Rio EA fails to inspire confidence. Traders seeking a trustworthy and robust trading solution would be wise to look elsewhere.
Rio Expert Advisor
599 USD
Pros
- Performance result
- Experienced vendor
- No martingale
Cons
- High drawdown
- High pricing
- Deficient backtesting report
- Low trading activity
- Pressure tactics